The Global Ophthalmic Packaging Market size is expected to reach $20.6 billion by 2027, rising at a market growth of 12.1% CAGR during the forecast period. As ophthalmic products are directly dispensed into the eyes that make it critical to pack these products with maximum care to keep their purity intact and prevent it from any kind of physical and chemical contamination. In order to fulfill the increasing requirement of safe packaging, many manufacturers are designing unique packaging formats. Ophthalmic drug packing has higher convenience in terms of effectiveness and safety of the medication than the packing utilized by solid oral products. Factor such as a surge in the rate of eye-related diseases is responsible for the growth & demand for ophthalmic packaging in the global market.
In addition, some of the catalysts to the growth of the ophthalmic packaging market are the creation of new packaging material, increased requirement to comply with the latest regulations, and surge in the requirement for brand enhancement and brand differentiation in the saturated market. The demand for ophthalmic packaging solutions has been driven by the increase in the occurrence of several ophthalmic conditions like conjunctivitis and dry eye. This also fuels the requirement for eye care around the globe. A study by USA General Population Cross-sectional revealed that approximately 16 to 49 million individuals in the US are suffering from dry eye disease.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic adversely affected the growth & demand of the ophthalmic packaging market. In addition, the COVID-19 pandemic has brought a disruption to the global ophthalmic market with a restricted number of patients coming to hospitals. On the other hand, prominent market players are forming unique strategies in order to cope with the changing environment. For instance, Johnson & Johnson optimized the pandemic situation by imparting training to healthcare professionals with their next-generation product offering. This initiative is expected to help the company to maintain and improve its brand loyalty.
Carl Zeiss Meditec offered remote care solutions and training to ophthalmologists with an aim to manage the situation that emerged out of the pandemic. Alcon wanted to develop its SMART Suite that offers a cloud-based platform to manage data in ORs and clinics. Similar to other healthcare practices, the ophthalmology field is expected to witness new avenues for growth with the help of telemedicine services. Moreover, the surge in the demand for prescription and OTC items in order to manage ophthalmic complications associated with COVID-19 is expected to boost the growth of the global ophthalmic packaging market over the forecasting period.
Market Growth Factors:
Increased screen time due to the massive penetration of social media
In the modern age, the screen time of people, especially the youth has been increased due to the high adoption of internet and penetration of social media. As a result, the prevalence of eye-related diseases has been increased around the world, creating high demand for drugs that are required in the treatment for such diseases. These ophthalmic drugs require packaging so that efficacy and effectiveness of the drugs will not be compromised.
The rise in the occurrence of ocular diseases
The increasing number of patients suffering from ocular disorders and diseases across the globe is expected to play a key role in boosting the growth & demand for ophthalmic packaging in the global market. Some of the most common eye diseases around the world are thyroid eye disease, diabetic retinopathy, glaucoma, optic neuritis, cataracts, and dry eyes. In addition, these diseases have promoted the establishment of new eye clinics and hospitals, hence creating higher demand for ophthalmic packaging across these systems.
Market Restraining Factor:
Surging costs of eye-related diseases
The global market of ophthalmic packaging is expected to be hampered by the poorly-developed healthcare infrastructure and less priority to ophthalmic care. Moreover, there has been a constant increment in the treatment of eye-related diseases that could hamper the growth & demand for ophthalmic packaging solutions in the global market. In addition, ophthalmic packaging comes with a heavy cost that could discourage many companies to choose these solutions for the packaging of their drug.
Dose Outlook
Based on Dose, the market is segmented into Multi Dose and Single Dose. Generally, multi-dose packaging for ophthalmic products includes a bottle, cap, dispensing tip or nozzle, and tamper-evident features. Preservatives are utilized to keep the product quality intact and prevent microbial contamination. Some of the key factors boosting the growth of the market are the increasing occurrence of common ocular diseases like conjunctivitis, dry eyes, and red eyes. Single-dose packaging is suitable for one-time use of ophthalmic products. Single-dose packaging is free from preservatives, hence reducing the possibility of allergic reactions to patients. Factor such as the demand for single-dose packaging in eye-related surgeries and advanced healthcare infrastructure is responsible for the growth of this segment.
Material Outlook
Based on Material, the market is segmented into Plastic, Glass and Other Materials. The plastic segment obtained the highest revenue share of the ophthalmic packaging market in 2020. Moreover, the segment is expected to exhibit a promising growth rate during the forecast period. The packaging of many commercially available ophthalmic preparations is done in plastic contains. Features such as simple usage, cost-effectiveness, and inertness are increasing the adoption of the segment.
Type Outlook
Based on Type, the market is segmented into Prescription and OTC. The OTC segment is expected to display the prominent growth rate during the forecast period. Factors such as the surge in awareness regarding self-medication and preventive care, innovative product launch, and the rise in the number of pharmacies are responsible for the growth of this segment.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC is expected to display the prominent growth rate during the forecasting period. Factors such as the high requirement for rapid and reliable packaging solutions that satisfy different types of security needs, improved patient comfort, offer superior quality & product protection, and consist of tamper-evident technology. The rising trend of advanced social security and healthcare systems in Asia is expected to open new growth avenues for the players operating in the regional ophthalmic packaging market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Becton, Dickinson and Company, Amcor PLC, AptarGroup, Inc., West Pharmaceutical Services, Inc., Gerresheimer AG, Schott AG (Carl-Zeiss-Stiftung), Nolato AB, LF of America Corp. (Tekni-Plex, Inc.), and Bormioli Pharma S.p.a.
Recent Strategies Deployed in Ophthalmic Packaging Market
- Aug-2021: Amcor unveiled a proprietary healthcare lidding technology. The technology is expected to be used for combination products, which include two or more regulated components.
- Aug-2021: Amcor expanded its geographical reach by establishing centers across Asia and Europe. Through this expansion, the company aimed to provide global customers with its deep material science expertise and packaging development capabilities.
- Jul-2021: Nolato expanded its geographical footprint by establishing its unit in Baldwin, Wisconsin. Through the expansion, the company is expected to expand warehousing and production support for medical product requirements. Moreover, the expansion aimed to support the production of diagnostic products and vaccine/drug manufacturing parts.
- Oct-2020: Gerresheimer rolled out DropControl, a latest kind of dropper insert. This product is suitable for modern drugs with low viscosity for ophthalmology that prevents the drug from flowing in uncontrollably during utilization.
- Dec-2019: Gerresheimer expanded its geographical reach by establishing two manufacturing units in China and India. Through this expansion, the company aimed to manufacture plastic primary packaging for pharmaceutical products. Moreover, the company is expected to also offer customers pharmaceutical packaging developed from plastic.
- Oct-2019: Gerresheimer launched the latest dropper bottle system E / F with two different cap designs. The product received the approval of the FDA and is expected to help in fulfilling the rising requirements. In addition, the product is available with the tamper-evident ring that stays fixed to the bottle after opening. Moreover, the product fulfills the requirements set out by The U.S. Food and Drug Administration (FDA) for eye-dropper bottles that specify that the TE-ring has to be strongly attached to the bottle to protect the original contents.
- Sep-2019: AptarGroup came into partnership with PureCycle Technologies. Through this partnership, the companies is expected to launch Ultra-Pure Recycled Polypropylene (UPRP) by PureCycle into dispensing applications.
- Jul-2019: Tekni-Plex took over Lameplast SpA, a healthcare packaging company based in Italy. Following this acquisition, Lameplast is expected to be a part of the global Tekni-Films business of Tekni-Plex. The acquisition aimed to help the company to provide a rigid packaging solution for prescription and over-the-counter medications and vaccines along with its flexible packaging options. These products is expected to offer value to healthcare and cosmetic companies across the globe.
- Sep-2018: Lameplast introduced the latest bottle for ophthalmic products compatible with Aptar’s OSD (Ophthalmic Squeeze Dispenser) device. Features of the product such as easy-to-use and a next-generation solution is expected to help in eliminating preservatives. Moreover, the new bottle is manufactured from pharmaceutical-grade PE, sterilized by gamma-ray.
- Aug-2018: AptarGroup acquired CSP Technologies, a leading vendor of active packaging technology based on proprietary material science expertise. This acquisition aimed to integrate CSP technologies into its global network and develop value-creating, unique solutions as a leading company in packaging solutions across the world.
- May-2018: Gerresheimer expanded its geographical reach by establishing its new plant in the South American market. The new plant started the production activities in the Brazilian state of Goiás to expand and support the continued strong growth.
- Feb-2017: Lameplast rolled out the latest single-dose strip with a large area closing system. The product is available with even more space at disposal for printing and for the inclusion of product information.
Scope of the Study
Market Segments Covered in the Report:
By Dose
- Multi Dose
- Single Dose
By Material
- Plastic
- Glass
- Other Materials
By Type
- Prescription
- OTC
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Becton, Dickinson and Company
- Amcor PLC
- AptarGroup, Inc.
- West Pharmaceutical Services, Inc.
- Gerresheimer AG
- Schott AG (Carl-Zeiss-Stiftung)
- Nolato AB
- LF of America Corp. (Tekni-Plex, Inc.)
- Bormioli Pharma S.p.a.
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Table of Contents
Companies Mentioned
- Becton, Dickinson and Company
- Amcor PLC
- AptarGroup, Inc.
- West Pharmaceutical Services, Inc.
- Gerresheimer AG
- Schott AG (Carl-Zeiss-Stiftung)
- Nolato AB
- LF of America Corp. (Tekni-Plex, Inc.)
- Bormioli Pharma S.p.a.
Methodology
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